Rural Disaster Housing Assistance

Program Description
To assist qualified lower income rural families to meet emergency assistance needs resulting from natural disaster to buy, build, rehabilitate, or improve dwellings in rural areas. Funds are only available to the extent that funds are not provided by the Federal Emergency Management Agency (FEMA). For the purpose of administering these funds, natural disaster will only include those areas identified by a Presidential declaration.
Direct loans may be used for construction, repair, or purchase of housing. Payment subsidy is available to eligible low and very low-income applicants. The term payment subsidy refers to either payment assistance or interest credit. A payment subsidy reduces the borrower's scheduled payment to an amount equal to what it would be if the note were amortized to as low as one percent. Payment subsidies are subject to recapture by the government when the borrower transfers title or ceases to occupy the property.

Applicants must be without adequate resources to obtain housing or related facilities. Applicants must be unable to secure the necessary credit from other sources at prevailing terms and conditions for residential financing.

General Program Requirements
Rural Disaster Loans are available in counties designated under a Presidential Disaster Declaration. These funds are made available to the extent that funds are not provided by Federal Emergency Management Agency (FEMA), Small Business Administration (SBA), or other agencies. Additionally, applicants must meet all eligibility requirements of Rural Development.

Loan Terms
Direct are repaid over 33 years or 38 years for applicants whose adjusted annual income does not exceed 60 percent of the area median income, if necessary to show repayment ability. Payment assistance is granted on direct loans to reduce the installment to an "effective interest rate" as low as one percent, depending on adjusted family income. Payment assistance is subject to recapture by the government when the customer no longer resides in the dwelling. There is no funding provided for deferred mortgage authority or loans for deferred mortgage assumptions.

Application Process
For more information, see the Program Contact Information below.

Contact Information (Register above for free access!)

Loading... Please wait

For more information about this program or to apply for assistance, contact your state's Rural Development field office using this office locator tool:

http://offices.sc.egov.usda.gov/locator/app

Interested applicants should contact their local USDA Rural Development field office for more information. To obtain contact information for the field office nearest you, visit:

http://www.rurdev.usda.gov/recd_map.html

For more information about Small Business Administration (SBA) programs that may be available visit:

http://www.sba.gov

For more information about Federal Emergency Management Agency (FEMA) programs that may be available visit:

http://www.fema.gov

Note: All applications for loans are handled at the local level. For help with an application, contact your Rural Development office at: http://www.rurdev.usda.gov.recd_map.html or your nearest office at:

http://offices.sc.egov.usda.gov/locator/app

Managing Agency
U.S. Department of Agriculture
http://www.usda.gov/

Back to Disaster relief Programs & Benefits

Membership Registration

Start a personal search of available grants.

Do you want to Quit Smoking? Learn how here.

First Name	Last Name

Email Address
(We will NEVER sell your email address)
Mailing Address

City	State	Zip Code

Phone Number
- -
You will not receive information on what you qualify for until you click the link in the verification e-mail you are being sent and confirm your request.
Please wait...

Government Grant Programs & Benefits Search

Categories

Navigation